Leerink Partners Lowers ICON Public (NASDAQ:ICLR) Price Target to $270.00

ICON Public (NASDAQ:ICLR) had its target price cut by investment analysts at Leerink Partners from $376.00 to $270.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical research company’s stock. Leerink Partners’ price target suggests a potential upside of 22.47% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Robert W. Baird cut shares of ICON Public from an “outperform” rating to a “neutral” rating and set a $340.00 price objective for the company. in a research report on Thursday. StockNews.com downgraded ICON Public from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Barclays reduced their target price on ICON Public from $350.00 to $330.00 and set an “overweight” rating for the company in a research note on Tuesday, October 15th. Redburn Atlantic began coverage on shares of ICON Public in a research note on Monday, October 14th. They issued a “neutral” rating and a $311.00 price target for the company. Finally, Baird R W downgraded shares of ICON Public from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, ICON Public currently has an average rating of “Moderate Buy” and a consensus price target of $310.45.

ICON Public Stock Performance

ICON Public stock opened at $220.47 on Friday. The company has a market cap of $18.19 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.31 and a quick ratio of 1.31. ICON Public has a 12 month low of $220.01 and a 12 month high of $347.72. The stock’s 50-day moving average is $297.75 and its 200-day moving average is $310.20.

ICON Public (NASDAQ:ICLR) last issued its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.72 by ($0.37). ICON Public had a return on equity of 12.06% and a net margin of 8.57%. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the firm earned $3.10 EPS. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities analysts anticipate that ICON Public will post 14.53 earnings per share for the current year.

Institutional Investors Weigh In On ICON Public

Institutional investors have recently modified their holdings of the business. Liontrust Investment Partners LLP boosted its stake in ICON Public by 19.5% during the 2nd quarter. Liontrust Investment Partners LLP now owns 119,728 shares of the medical research company’s stock valued at $37,531,000 after purchasing an additional 19,546 shares during the period. Kornitzer Capital Management Inc. KS grew its holdings in ICON Public by 15.9% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 95,753 shares of the medical research company’s stock worth $30,016,000 after buying an additional 13,163 shares in the last quarter. Sara Bay Financial bought a new position in ICON Public in the 3rd quarter worth approximately $1,143,000. SkyView Investment Advisors LLC acquired a new stake in ICON Public in the 1st quarter valued at approximately $1,021,000. Finally, Crestwood Advisors Group LLC bought a new stake in ICON Public during the 2nd quarter valued at $288,000. Institutional investors own 95.61% of the company’s stock.

ICON Public Company Profile

ICON Public Limited Company, a clinical research organization, provides outsourced development and commercialization services in Ireland, rest of Europe, the United States, and internationally. The company specializes in the strategic development, management, and analysis of programs that support various stages of the clinical development process from compound selection to Phase I-IV clinical studies.